Press Release brought to you by Hunt Mortgage Group

Hunt Mortgage Group Refinances Three Multifamily Properties Located in Dallas County, Texas

10/31/2014

— Total funding equals $17.75 million —

New York, NY — October 31, 2014 — Hunt Mortgage Group, a commercial real estate lender, announced today that it has refinanced three multifamily properties located in Dallas County, Texas for the same sponsor.  The total Hunt Mortgage Group investment was $17.75 million. 

The properties include:

»      Courtney Place Apartments. Hunt Mortgage Group provided a $2.75 million Fannie Mae loan facility to refinance Courtney Place Apartments located in Dallas, Texas. Courtney Place Apartments is a 104-unit garden style multifamily property comprised of seven, two-story residential buildings and a single-story clubhouse. The property was built in 1965. 

»      Spanish Stone Apartments.  Hunt Mortgage Group provided a $3.5 million Fannie Mae loan to refinance Spanish Stone Apartments located in Garland, Texas. Spanish Stone Apartments is a garden style multifamily property that is comprised of 12 two-story residential buildings and a two-story leasing office/maintenance building.  The property was built in 1959 and has a total of 126 units. 

»      Spanish Meadows Apartments.  Hunt Mortgage Group provided an $11 million Fannie Mae loan to refinance Spanish Meadows Apartments, a multifamily property located in Mesquite, Texas.  The complex houses 365 units.

The loans on all three facilities include a 10-year term, 30-year amortization period and a 9.5 year yield maintenance period. 

The borrower is a Texas limited partnership that is managed by Gage Investments, Ltd. Gage is owned solely by Gage Management, L.L.C., a Texas limited liability company.

“Gage Management is a repeat Fannie Mae customer and the borrower is a seasoned industry executive with a solid background in commercial real estate investing,” said Steven Cox, Managing Director at Hunt Mortgage Group.  “The properties are well managed and are located in healthy Dallas-Fort Worth submarkets. This was a solid deal for Hunt.”

Hunt Mortgage Group provides financing for conventional multifamily properties throughout the United States. Hunt Mortgage Group is a Fannie Mae DUS lender, Freddie Mac seller-servicer, FHA-approved mortgage provider.  It also is a proprietary lender for other commercial real estate assets. 

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About Hunt Mortgage Group

Hunt Mortgage Group, a wholly owned subsidiary of Hunt Companies, Inc., is a specialty finance company focused on financing commercial real estate nationwide.  The Company specializes in financing multifamily properties, but also finances:  affordable housing,  manufactured housing, healthcare/senior living, office, retail, industrial, and self-storage facilities throughout the United States.   It offers Fannie Mae, Freddie Mac, HUD/FHA and its own proprietary loan products.   The Company maintains a servicing portfolio of over $10.4 billion. Headquartered in New York City, Hunt Mortgage Group is comprised of 129 employees located in 15 locations throughout the United States.  To learn more about Hunt Mortgage Group, visit www.huntmortgagegroup.com.

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10/31/2014 - 08:42

Source

Hunt Mortgage Group

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